Hong Kong to roll out regulatory sandbox for stablecoin issuer | Crypto | Ethereum | Bitcoin
Hong Kong to roll out regulatory sandbox for stablecoin issuers, says financial secretary
The Hong Kong Monetary Authority plans to introduce a regulatory sandbox for stablecoin issuers in the near future, the city’s financial secretary, Paul Chan, said during the 2024 budget announcement on Wednesday. Chan stated in the announcement that the sandbox is designed to enable companies to test stablecoin initiatives, explore business models, and implement investor protection and risk management strategies in a controlled environment.
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